4 Mistakes to Avoid While Renting Out Property

Presently buy to let sector get so much popular in the UK. That’s why people are showing more interest in buying domestic and commercial properties. With a vision to rent them out but keep in mind that before doing this there are certain legal regulations that you have to fulfil. Just like you are liable to get the safety certificates, do PAT testing of the property, install security and fire alarms. All these things will help you to make the house safe and secure for the tenants.  Other than that some of the tenants use to make mistakes that might turn out costly for the Landlords while renting out the property. So if you are a new Landlord then you should prefer to be very careful and try to avoid these mistakes while renting out the property. So these mistakes are actually described below.

1. Avoid Mistake of Not Protecting the Deposit:

So the first mistake that new Landlords should avoid is not checking the security of tenancy deposit. Keep in mind that it is a legal requirement and it should be properly secured in any of the renowned schemes. So that’s why it is better to check everything before renting out the property to the tenant. Actually, you are as a Landlord is liable to protect the deposit of the tenant within 30 days. But if you will fail to deposit it, then it means you failed to follow Section 21. After that you will be liable to refund the entire deposit to the tenant beforehand.

2. Avoid Mistake of Not Getting Gas Safety Certificate:

Another mistake that Landlords have to avoid while renting out the property is failure to get the gas safety certificate cost. Actually for getting this certificate Landlord will have to hire the authorized person that will test all the gas appliances present in the property. After proper testing and verification he will issue gas safety certificate. Keep in mind that these certificates will also help you to increase the value of property. Other than that they will also help you to prevent any type of accident or loss of life. Most of the new Landlords use to forget about getting these certificates. Due to which they end up giving property on rent at low prices and also giving a penalty if any accident will happen in their property.

3. Avoid Mistake of Not Getting EPC Certificate:

Another mistake that landlords use to make is to fail to get an Energy Performance Certificate for their property before renting out the property. Keep in mind that you have to get this certificate before renting out the property as it is also the legal requirement that you have to fulfil. This certificate will help you to show tenant that yes, your property is completely safe and secure and all the electrical appliances are properly tested and verified. The next thing that you should know is that this certificate is actually valid for almost 10 years. But if you will break the rules of EPC then it might cost you to have a penalty that's fixed at £200.